The Settlement Gains 9.1% Income Growth First Year with Revenue Management Software Service

RentPush offers three operational options. There are no portfolio size restrictions and setup costs are minimal.

Dallas, TX (PRWEB) June 17, 2014

The Settlement Apartments in Kyle, Texas finished its first year using RentPush.com revenue management software with a stunning 9.1% gain in rent per occupied unit. The performance surpassed expectations. The Settlement, a property acquired by Block Real Estate Services, LLC in April, 2013, implemented RentPush revenue management in May, 2013. During the ensuing twelve-month period, The Settlement’s immediate competitors increased net rent prices by an average of 3.1%. A regional rent survey reports a 3.43% net rent increase according to survey data provided by Spherexx’s proprietary market research in MarkeySurveyTools.com.

The 396 unit community posed some immediate challenges for Block at the time of takeover. Over 55% of the property had leases expiring during the upcoming four months. Existing lease rates were considerably below market. A year later, the expirations are stabilized at increased rates with healthy occupancy. Details of that accomplishment are available upon request at THE SETTLEMENT CASE STUDY.

RentPush.com addresses many aspects of property management that extend beyond pricing analysis and pinpoints operational areas that need close attention. Subscribers may elect to engage various optional features that best relate to their management initiatives and corporate culture. The program is scientific, cloud-based and algorithmic. It incorporates linear and non-linear programming optimization, time series forecasting, price elasticity, data normalization, quantifying perception and performance based attributes. Basically, it learns as it works.

The more data contributed, the more accurate the pricing and projections. For example, RentPush offers a detailed make-ready module that factors in product cost, time loss and employee performance into its calculations. That feature is also available in mobile version so that maintenance employees do not have to expend time physically reporting completed tasks. Upper management can quickly review vacancy condition and how it affects overall profits. There is also a commission tracking module that analyzes performance and distributes rewards. This vast data is triggered to key performance factors. RentPush.com is integrated with multiple accounting programs and online services.

RentPush also provides a price publishing feature that allows prospective residents and leasing representatives to quickly identify availability and specific unit pricing. Similar to shopping for airfare or hotel accommodations, behavioral pricing for an apartment requires interaction on behalf of the consumer to determine their best value. During onsite secret shopping studies, the RentPush development team observed that leasing staff members had difficulty streamlining unit selection. Prospects became easily confused on pricing and finalizing a lease took longer, therefore creating a higher risk of losing the prospect to a competitor. RentPush created an online solution where prospects and leasing professionals can drill down quickly to a desired unit. The program lists all the unique features and attributes of the individual location and generates a quote sheet brochure that serves as a firm quote and states what restrictions may apply. Review a demo of this feature at PRICING PRESENTATION.

The most recent upgrade, RentPush Pro Version, allows revenue managers and/or management executives to review pricing performance and projections on a single page and subsequently access the subterranean data that supports the analysis. Messaging, reference notes, and archived documents have also been added to the new feature as easy access tabs. Additional shortcuts drill down to critical pricing configurations. The pricing manager can view intuitive recommendations and corresponding thresholds and metrics so that meaningful action plans can be developed and documented. Advanced settings and parameters, as well as rent and amenity analysis, are immediately accessible and can be modified from the dashboard making for more timely responses to changing supply and demand.

This program offers three operational options. There are no portfolio size restrictions and setup costs are minimal. Click to view a RentPush VIDEO DEMO.

RentPush Essential
-RentPush Revenue Management and Optimization Software and product support
-Owner/Manager provides pricing analyst to oversee pricing
-Four hours of web-based training for onsite and corporate team
-Certification program for trained users
-Bi-Annual Pricing Consultation to review performance and ensure continued optimization of revenue and property value

RentPush PRO
-RentPush Revenue Management and Optimization Software and product support
-Access to the ‘RentPush Pro’ dashboard
-Owner/Manager provides pricing analyst who has access to, and uses the ‘RentPush -Pro’ dashboard to oversee pricing
-Four hours of web-based training for onsite and corporate team
-Certification program for trained users
-Quarterly Pricing Consultation to review performance and ensure continued optimization of revenue and property value

Spherexx.com is recognized as an established leader for website, Internet marketing and software development services since 2000. With offices located in Tulsa, Dallas, and Houston, the company has been distinguished as one of INC5000’s fastest growing companies. Spherexx.com is a recipient of the International Summit Creative Award 2014 for creative and communication excellence and an Internet Advertising Competition award for best real estate website. Spherexx.com is also a 2013 Webby Honoree.

The company has developed CRM (customer relationship management) products, marketing and lead generation tools that allow clients to better manage and convert leads to leases and sales and increase property values. These applications are branded under ApartmentWebsites.com, Messagekast.com, ILoveLeasing.com®, MarketSurveyTools.com, RentPush.com® Revenue Management Asset Optimization and RentIntel Business Intelligence. Spherexx.com provides web-based prospecting, marketing, advertising management, and support services.